They were hoping that the stock would disappear like other BK stocks and therefore they wouldn't have to cover. Us longs have given them massive heartburn. Plus they were wanting to wait for the year mark for lesser capital gains tax.
I made a statement back a while ago if they started covering it would tip others off and create a run... secondly they might think that JPM could stomp Wamu like a bug.....
kind of like a kid sent to his room - does it only when he has to..... I guess we never grow up.
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